RE: RE: Financials ?That may be so, but they also have experienced more than a double in revenue for the first 9 months of this year of the total for the entire year in 09. The following is from SEDAR dated July 5:
TORONTO, July 5 /CNW/ - Intertainment Media Inc. ("Intertainment" or the
"Corporation") (TSXV:INT) has posted a Letter to Stakeholders by CEO David
Lucatch on its web site
www.intertainmentmedia.com providing interested
parties with an update to the Corporation's June 30th fiscal year-end.
Over the past fiscal year, Intertainment has focused its efforts on
emerging from a development company to a commercial enterprise. In accordance
with the focus on commercial activities, management presented 3 goals for the
fiscal year at the Company's Annual General Meeting; Increase Revenues, Reduce
Long Term Debt and Increase Shareholder Value.
Management and staff have been focused on meeting the corporate goals by
achieving individual and team objectives. The results are as follows:
<<
2009/2010 Highlights
--------------------
>>
2 Major Acquisitions - purchase of the print and graphics assets of 135
year old Dye & Durham. Completion of the purchase of outstanding legacy
technology of itiBiti that the Company did not already own.
Increased Revenues - Annual Financial Statements will be released in
accordance with TSXV guidelines. By end of Q3, revenues were $3,103,497, as
compared to $1,517,652 the previous year.
Reduction of Long Term Debt - The Company embarked on an aggressive
program to reduce outstanding debentures. These results will be released in
the Company's Annual Financial Statements.
Magnum's online MIS platform experienced client adoption increase by over
350%. The MIS platform allows mid size and large companies to order and manage
collateral materials online, creating system wide efficiencies, saving clients
an average of 23% on internal processing and management costs.
Intertainment became part of Microsoft Corp's Global Agency Initiative
program - March 2009
Commercial Launch of itiBiti (www.itibiti.com) - November 2009 with
NBC.com
Beta testing of 3 additional itiBiti clients in addition to NBC.com
Creation and early stage development of Ad Taffy (www.adtaffy.com) - new
industry advertising/geo location platform
Satellite offices opened in New York, Los Angeles and San Mateo (Silicon
Valley).
Hiring of CMO Brad Parry and CFO Edward Jonasson
Increased staff in core business areas.
Completion of announced capital financing programs for itiBiti and
Intertainment.
"Although there has been uncertainty in the financial markets in the past
year, Intertainment has continued to aggressively move forward executing its
business plan and activities in accordance with the goals set by management
for the fiscal year ended June 30, 2010," said David Lucatch, CEO -
Intertainment Media Inc. "Management is diligently focused on its objectives
and working to increase revenues, lowered long term debt and increase
shareholder value."
About Intertainment -
www.intertainmentmedia.com
Connecting people with brands, Intertainment Media Inc. is a Rich Media
Applications leader, focused on delivering leading edge technology and
marketing solutions enabling clients to power enhanced branding, loyalty
initiatives and consumer engagement. Selected as a Microsoft Global Agency
Initiative partner, Intertainment has joined an elite group of interactive
agencies worldwide that Microsoft recommends to its Partners and Customers.
Intertainment owns a number of key properties including Ad Taffy
(www.adtaffy.com), itiBiti (www.itibiti.com) and Magnum Fine Commercial
Printing Limited (www.magnumprinting.com).
Headquartered in Richmond Hill, ON, with offices in New York, Los Angeles
and San Mateo, CA, Intertainment Media Inc. is listed on the Toronto Venture
Exchange under the symbol "INT"